Back when the economy tanked, a lot of people wondered aloud how it would affect the sales of summer festival tickets. But beside Langerado, the economic downturn hasn’t been affecting music festival ticket sales like many pundits expected and how economic reality would indicate. Billboard is reporting that sales for festivals like Coachella and Bonnaroo aren’t just okay; they’ve experienced modest increase in ticket sales.
The larger festivals might be fine, but organizers of smaller festivals have been faced with having to cut prices and look at other ways to cut costs. Plus the economic crunch has hurt festivals’ ability to draw big name talent needed to move the kind of tickets needed.
A few other festivals might be collapsing this year as well, as the Virgin Mobile Fest hasn’t even announced any performers yet, and neither has Outside Lands.
I’d have thought that the economy would have had a more cataclysmic effect on the festival economy, but now it’s looking like one of the few things that has not been entirely crushed by hard economic times (sorry newspapers). [Billboard]